KeyCorp to launch services in early 2005
Published:
11 January 2005 y., Tuesday
The weakening U.S. dollar, along with emerging investment opportunities in Central and Eastern Europe following enlargement of the European Union, is providing a strong incentive for U.S. financial institutions to enter the Czech market.
U.S. banking group KeyCorp became the first to do so when it announced last month that it was heading to the Czech Republic. The country is likely to serve as a take-off point for KeyCorp's activities in the region, said Daniel Brzkovsky, head of the group's Czech partner, Key Investments.
"KeyCorp is set to launch its activities here in the first half of next year," Brzkovsky said. "It'll focus on trading with mutual funds and on corporate finance."
KeyCorp won't be opening any retail-banking facilities in the country, and its operations will be based at the offices of Key Investments, Brzkovsky said.
Cooperation with KeyCorp initiated the re-branding of brokerage firm SI Asset Management to Key Investments in November. The company had revenues of 15.3 million Kc ($651,000) last year and reported 443,000 Kc in net profit.
Brzkovsky said that the collaboration with KeyCorp will help the firm penetrate other markets in the region. Key Investments will assist in selling mutual funds of Victory Capital Management, one of KeyCorp's units, and help launch new products as well as provide asset management and consulting services.
Šaltinis:
The Prague Post
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
Statistics Lithuania has calculated that, based on provisional data, FDI in Lithuania in 2009 amounted by 5.3 % more than in 2008. Also, direct investment of Lithuanian enterprises abroad grew by 13.9 % in 2009.
more »
Concerns about foreign fish being sold in Europe and what to do about the future of Europe's fisheries industry were aired in a hearing held by the Fisheries Committee on 8 April.
more »
EU opens public debate on its agricultural policy, the prelude to a major reform in 2013.
more »
The European Commission today launched a €35 million call for eco-innovation projects to be funded under the Competitiveness and Innovation Programme.
more »
Bank SNORAS group company Finasta Holding recruits all funds management and investment companies of the group in the Baltic States.
more »
The European Central Bank (ECB) and the European Commission are jointly holding a high-level conference on financial integration and stability at the ECB’s premises in Frankfurt am Main.
more »
Today, the European Central Bank (ECB) is publishing its fourth Report on Financial Integration in Europe, which notes the return towards integration in the European financial markets.
more »
World Bank Group financial commitments since July 2008, just before the full fury of the financial crisis hit, reached US$ 100 billion today as the institution helped countries respond to and recover from the global downturn.
more »
On March 31, 2010, the Executive Board of the International Monetary Fund concluded the Article IV consultation with Serbia.
more »
The International Monetary Fund and the United Kingdom’s Department for International Development have launched a new project to improve macroeconomic statistics in 23 African countries. DFID will provide US$7.5 million over the next five years to support the project.
more »